THE Shared Prosperity Vision 2030 (SPV 2030) will fail unless there is a change in mindset towards transparency and accountability as corruption has now become acceptable, Prime Minister Dr Mahathir Mohamad said today.

“I used to say that previously, when corruption was an ‘under the table’ act, it was a scourge to our nation’s future.

“But the last few years saw corruption becoming an ‘over the table’ act, being committed openly by the top leaders. Others will then do the same without fear,” he said during his keynote address at the 2019 International Conference on Financial Crime and Terrorism Financing (IFCTF).

SPV 2030 is a government blueprint released by the Pakatan Harapan (PH) government for the period of 2021 to 2030 to increase the incomes of all ethnic groups.

Dr Mahathir said corruption, which was once viewed as disgusting, has now become acceptable.

The prime minister says those not indulging in corruption will be considered as stupid before long and graft has reached a level of almost becoming a lifestyle, and that was when cash was heralded as the new King.

On that note, Dr Mahathir said there has to be a decisive shift in the behaviour and expectations of Malaysians in favour of transparency and accountability, otherwise efforts to achieve the Shared Prosperity Vision will fail.

Dr Mahathir also said New Malaysia cannot happen if the old mentality that compromised and tolerated corrupt practices is not eradicated.

Similarly, he said economic reforms in the new Malaysia cannot be ushered in unless they are accompanied by institutional and governance reforms.

“We once stood shoulder to shoulder with growing Asian economies. Rampant corruption and greed have led us to lose our way. This must not happen again,” he said.

“Our reputation had been diminished and discredited. We need to regain our reputation and credibility in the eyes of the world,” he added.

The electorate that voted Pakatan Harapan to power expects the new government to uphold good governance, integrity, and rid itself of corrupt practices and abuses of power after the corruption by in the previous administration, Dr Mahathir said.

“These demands were the result of the way in which the previous administration had conducted its affairs.

“They ignored these high values and in turn they were rejected by Malaysians who could not stomach the blatant abuses of power and corruption,” he said.

“It is during that period that financial crimes were committed brazenly and blatantly without regard for all the laws and regulations.

“This was only possible because the highest power entrusted to defend these laws was the very one committing them,” he added.

The Langkawi MP said these incidents have proven that rules and regulations alone will not be enough to stop highly placed criminals from committing financial crimes.

“It is important for me to reiterate, that while laws and governance frameworks play an important part in a clean, transparent and accountable Malaysia, they can only go so far,” he said.

It needs to be supported with the right leadership in both public and private sectors in order to ensure that this reinforced culture of integrity will be a new norm in Malaysia,” he added.

Dr Mahathir said the National Governance, Integrity and Anti-Corruption Centre (GIACC) and the tabling of the National Anti-Financial Crime Centre (NFCC) bill in Parliament are among the efforts taken in that direction.

Dr Mahathir today launched a national Public-Private Partnership Initiative at IFCTF 2019. – November 5, 2019.